Martingale Asset Management L P Raises Holdings in Black Hills Co. (NYSE:BKH)

Martingale Asset Management L P raised its position in shares of Black Hills Co. (NYSE:BKH - Free Report) by 13.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,683 shares of the utilities provider's stock after acquiring an additional 8,261 shares during the period. Martingale Asset Management L P owned approximately 0.10% of Black Hills worth $4,381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pathway Financial Advisers LLC purchased a new stake in Black Hills during the first quarter valued at $31,000. Blue Trust Inc. lifted its holdings in shares of Black Hills by 84.9% in the 3rd quarter. Blue Trust Inc. now owns 577 shares of the utilities provider's stock valued at $35,000 after acquiring an additional 265 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in Black Hills during the third quarter worth approximately $45,000. Quarry LP raised its position in Black Hills by 158.0% during the second quarter. Quarry LP now owns 841 shares of the utilities provider's stock valued at $46,000 after purchasing an additional 515 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Black Hills by 972.3% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 890 shares of the utilities provider's stock worth $48,000 after purchasing an additional 807 shares during the period. 86.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Scotiabank increased their price target on Black Hills from $54.00 to $63.00 and gave the company a "sector perform" rating in a report on Tuesday, August 20th. Wells Fargo & Company lifted their price target on shares of Black Hills from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research note on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $60.25.

Black Hills Trading Up 0.2 %

Shares of NYSE:BKH traded up $0.13 on Friday, hitting $64.07. 254,173 shares of the company's stock were exchanged, compared to its average volume of 473,760. The stock has a market capitalization of $4.59 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 4.62 and a beta of 0.69. Black Hills Co. has a 12 month low of $49.33 and a 12 month high of $65.59. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.12 and a quick ratio of 0.83. The business's 50 day simple moving average is $61.13 and its two-hundred day simple moving average is $58.25.

Black Hills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Monday, November 18th will be given a $0.65 dividend. The ex-dividend date is Monday, November 18th. This represents a $2.60 annualized dividend and a yield of 4.06%. Black Hills's dividend payout ratio (DPR) is 69.89%.

Black Hills Company Profile

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. The company operates in two segments: Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 222,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,394 megawatts of generation capacity and 9,106 miles of electric transmission and distribution lines.